John Sykes is a self-made businessman. And he has a career’s worth of knowledge to prove it.
Sykes grew up on the self-termed “other side of the tracks” in North Carolina, where he was raised in a family that was short on money but long on business sense.
“My grandmother raised chrysanthemums and I had aunts and uncles that worked in the cotton mill,” Sykes says. “They’d bring fabric scraps home, and my grandmother and I would make patterns out of them for aprons and quilts. I’d take a wagon, put flowers, quilts and blankets in it and go door to door selling them. She’d take inventory when I got back, count up the money. And she’d make me go back and give correct change if I was over.
“Half of what I made was put into flowers, 25 percent went to me as salary and 25 percent went into a lockbox as a savings account. That’s what taught me about business.”
From threadbare beginnings, Sykes climbed the business ladder and started Sykes Enterprises Inc. in 1977. As founder, chairman and CEO, he built the outsourcing services firm into an international business before stepping down in 2004 with his reputation cemented as a pillar of the Florida business community.
The company has continued to flourish after his departure, generating $846 million in revenue last year.
At the start of this year, Sykes undertook a new business venture as a founder and the chairman of JHS Capital Holdings, the parent company of JHS Capital Advisors Inc. The privately held company currently has about 150 employees and does not disclose revenue.
Sykes has amassed a wealth of experience since starting Sykes Enterprises with two employees and $10,000 in savings. What follows are some of the most crucial business and leadership lessons he has learned and how you can implement them in your business.
